The Business Plot was a reported political conspiracy in 1933 which involved wealthy businessmen plotting a coup d état to overthrow United States President Franklin D. Roosevelt. In 1934 retired Marine Corps Major General Smedley Butler testified to the McCormack-Dickstein Congressional committee that a group of men had approached him as part of a plot to overthrow Roosevelt in a coup.r than the proposal from MacGuire which it considered more or less confirmed by MacGuire's European reports.execution, most agree that some sort of wild scheme was contemplated and discussed. Contemporaneous media initially dismissed the plot, with a New York Times editorial characterizing it as a gigantic hoax When the committee's final report was released, the Times said the committee purported to report that a two-month investigation had convinced it that General Butler's story of a Fascist march on Washington was alarmingly true and It also alleged that definite proof had been found that the much publicized Fascist march on Washington, which was to have been led by Major. Gen. Smedley D. Butler, retired, according to testimony at a hearing, was actually contemplated